Cigna Investments Inc. New Cuts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cigna Investments Inc. New lessened its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,469 shares of the semiconductor manufacturer’s stock after selling 144 shares during the quarter. Cigna Investments Inc. New’s holdings in Advanced Micro Devices were worth $1,989,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Creative Capital Management Investments LLC boosted its stake in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares during the last quarter. Global Wealth Strategies & Associates acquired a new stake in Advanced Micro Devices during the 4th quarter worth $26,000. Retirement Wealth Solutions LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth $32,000. Compass Financial Services Inc acquired a new stake in Advanced Micro Devices during the 4th quarter worth $39,000. Finally, FSA Wealth Management LLC acquired a new position in shares of Advanced Micro Devices during the 3rd quarter valued at about $41,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Activity at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at approximately $508,834,266.92. This represents a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMD. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research report on Tuesday, February 4th. TD Cowen lowered their price target on shares of Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company lowered their price target on shares of Advanced Micro Devices from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Melius Research reaffirmed a “hold” rating and issued a $129.00 target price (down previously from $160.00) on shares of Advanced Micro Devices in a research report on Tuesday, January 28th. Finally, Melius cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and decreased their target price for the company from $160.00 to $129.00 in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $158.70.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $110.48 on Tuesday. The stock has a 50 day moving average price of $123.42 and a 200 day moving average price of $139.71. The company has a quick ratio of 1.78, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $179.03 billion, a price-to-earnings ratio of 111.60, a price-to-earnings-growth ratio of 1.04 and a beta of 1.65. Advanced Micro Devices, Inc. has a 52-week low of $106.50 and a 52-week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Research analysts predict that Advanced Micro Devices, Inc. will post 4.11 EPS for the current fiscal year.

Advanced Micro Devices Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.